MS SB2910

Authorizes issuance of state general obligation bonds totaling up to $500,000 to assist the City of Marks, Mississippi, in paying costs for planning and construction of the Civil Rights Rhythm & Blues Hall of Fame.

Creates a special fund designated the "2022 City of Marks Civil Rights Rhythm & Blues Hall of Fame Fund" within the State Treasury to receive bond proceeds and disburse funds for the project.

Bonds may be issued at any time by the State Bond Commission but no later than July 1, 2026, with a maximum maturity of 25 years and interest rates not exceeding limits set by Mississippi Code Section 75-17-101.

Full faith and credit of the State of Mississippi is pledged to pay bond principal and interest, with any shortfall paid from the State Treasury; bonds are exempt from state taxation and qualify as legal investments for financial institutions.

Upon project completion, abandonment, or if the project cannot be completed timely, any remaining fund balance shall be applied to pay debt service on the issued bonds.